Saudi Aramco in talks with Reliance Industries to make third major purchase in weeks April 17, 2019 Saudi Aramco could pay up to $15bn for a stake in an Indian refining and petrochemicals business, according to reports. The Saudi oil giant, which on Monday acquired a large slice of a South Korean refiner, is in talks to buy 25 per cent of Reliance Industry, the Time of India reported. Read more: Saudi [...]
Zoom and Pinterest test the IPO waters April 17, 2019 | City Talk IPO season continues this week, but should you dip your toes in the water with the latest offerings on Wall Street? Zoom and Pinterest will price later on Wednesday and begin trading on Thursday. After Lyft’s travails of late, it will be an important test of investor confidence again, especially as it comes ahead of [...]
Oil authority pays £3m a year for massive North Sea database April 16, 2019 The UK authority which oversees North Sea oil fields will pay around £3m a year in upkeep for a new database to help oil companies. The Oil and Gas Authority launched the UK Oil and Gas National Data Repository late last month in a bid to encourage small explorers to extract as much from the [...]
Sterling falls as doubts emerge over cross-party Brexit talks April 16, 2019 Sterling fell after reports emerged that Labour leader Jeremy Corbyn had said talks with the government were stalling, although the party has slapped down the claim. Read more: Tusk says he still dreams of UK U-turn on Brexit A falling pound sent the FTSE 100 to a six-month high, as investors responded to the news [...]
Rio Tinto downgrades iron ore forecasts after storms batter Western Australia April 16, 2019 London-listed miner Rio Tinto has downgraded its iron ore guidance after a tropical cyclone battered Australian ports. Shipments of iron ore from the Pilbara region of Western Australia fell 14 per cent year-on-year in the first quarter of 2019 to 69.1m tonnes. Read more: Rio Tinto invests $302m in US copper project Meanwhile, they were [...]
Travelex-owner Finablr to raise $200m in London listing April 16, 2019 The owner of foreign exchange company Travelex today announced its intention to raise $200m (£153m) in a float on the London Stock Exchange. United Arab Emirates-headquartered payments and foreign exchange business Finablr said it expects to raise $200m with plans for a free float of at least 25 per cent of the company. The company’s brands [...]
Your IPO can dazzle the stock market with the right communications strategy and PR spin April 16, 2019 The initial public offering (IPO) market is revving into gear, with consumer technology stars including Uber, Airbnb, and other Silicon Valley heavyweights planning to go public this year. However, these offerings all come in the controversial wake of ride-hailing app Lyft, which raised more than $2.3bn (£1.76bn) in a seriously – 20 times – oversubscribed [...]
Lyft shares tumble after tough week of trading April 15, 2019 Ride-sharing company Lyft saw its share price fall to a fresh low today as Wall Street caution continued to loom large weeks on from the firm's initial float. Read more: Lyft's brutal debut set to push down Uber IPO price The group’s share price has plunged more than five per cent this afternoon, adding to a 20 [...]
Petra Diamonds aims to be cash flow positive this year despite falling production April 15, 2019 Miner Petra Diamonds plans to have a positive cash flow by the second half of 2019, the company said today even as production fell in the third quarter of the financial year. The company’s mines spat out 924,000 carats of diamonds, down 6.9 per cent on the year before as production decreased at its Finsch mine. [...]
Goldman Sachs profits fall 20 per cent in first quarter amid calm markets April 15, 2019 Profits at Goldman Sachs fell 20 per cent in the first quarter with revenues dropping in its trading and equities arms as lower market volatility limited opportunities for gain. Read more: Goldman Sachs fined £34m over transaction reporting failures The Wall Street giant said the US government shutdown, US-China trade tensions, and Brexit had all [...]
